In a shocking revelation that has exposed a massive financial fraud, the Thane Economic Offences Wing has uncovered how a single accused managed to dupe Railway Protection Force personnel of nearly Rs 50 crore through an elaborate investment scheme.
The Mastermind Behind the Scam
Omprakash Yadav, a 30-year-old man from Uttar Pradesh, allegedly posed as an Income Tax officer while orchestrating one of the most significant financial frauds targeting RPF staff across multiple states. The accused, who was recently arrested by investigating authorities, built an intricate web of deception that spanned several years and multiple cities.
Police investigations reveal that Yadav's modus operandi involved promising exceptionally high returns through online trading platforms. He began his fraudulent activities in 2020, initially offering small profits to victims to establish credibility and build trust among the RPF community.
Nationwide Network of Victims
The scale of this financial fraud is staggering, with approximately 350 RPF officers and staff members falling prey to Yadav's schemes across eight major locations. The affected personnel were stationed in Mumbai, Thane, Pune, Nagpur, Nashik, Bhusawal, Uttar Pradesh, and Delhi.
So far, 40 victims have formally registered complaints with the police, but authorities believe the actual number of affected individuals is much higher. The investigation has uncovered that many officers took personal loans amounting to almost Rs 15 lakh each after being lured by promises of 5% monthly interest returns.
Elaborate Deception Tactics
Yadav's operation grew increasingly sophisticated over time. To lend credibility to his scheme, he opened a physical office in Kalyan's Khadakpada area, creating the appearance of a legitimate business establishment. The accused went as far as assisting his victims in securing loans from financial institutions, with police suspecting that some banking officials might have facilitated this process.
"Preliminary findings show Yadav invested heavily in his hometown, built a three-storey house, and purchased a luxury car in Mumbai—while continuing to project himself as an income tax department employee," revealed a police officer involved in the investigation.
The Thane EOW has now shifted its focus to tracing all properties and investments made using the cheated money. Authorities are meticulously following the money trail to identify any additional investments Yadav might have made elsewhere in the country.
This case highlights the growing sophistication of financial frauds targeting government personnel and underscores the need for greater financial literacy and awareness among public servants. The investigation continues as police work to uncover the full extent of this elaborate scam and ensure justice for the hundreds of affected RPF personnel.
